Dec 1 The sale of municipal bonds by states, cities, schools and other issuers fell to $23 billion in November, a drop of 30 percent from October’s $33 billion of issuance, according to Thomson Reuters data on Tuesday.
Supply last month was also 18 percent lower than in November 2014. Still, 2015 issuance of $357 billion as of Monday was 28 percent higher than the same period in 2014.
Refundings continued to account for a majority of the volume at $226.2 billion versus nearly $131 billion in new money issuance.
Reuters
(Reporting by Karen Pierog in Chicago; Editing by Lisa Shumaker)